FREE Tax Prep Day: Helping Employees Keep More of Their Hard-Earned Money
This Thursday, March 5th, WorkSquare is hosting our sixth annual FREE Tax Prep Day for all of our team and extended family. Our partners from Branches and United Way’s Center for Financial Stability will be at WorkSquare’s Miami location from 10:00am to 2:00pm, providing expert tax advice and filing. This team is trained to make sure employees take advantage of all available tax benefits – Earned Income Tax Credit, Child Credits, and more – all while saving employees hundreds of dollars on tax prep. And did we mention there will be pizza, too?
Seven things employees need to remember when preparing their 2015 taxes:
Skip the “Instant Refund”! Many tax services like H&R Block or Jackson Hewitt offer instant refunds, meaning that you receive your tax refund on the spot. While quick money is great, read the fine print. What most tax preparers aren’t telling you is that they’re charging you hefty fees or interest rates as high as 100% APR – often adding up to hundreds of dollars – just so that you get your money two weeks earlier than you’ll get it from Uncle Sam. Hold out, skip the instant refund products, and keep more of your hard-earned money.
Individuals earning up to $58,000 a year are eligible for FREE Tax Prep. This is a quick and easy way to save hundreds of dollars. If you missed WorkSquare’s FREE Tax Prep Day on March 5th, check out these alternate locations and dates for free tax prep around Miami and Los Angeles.
You can do it yourself, even in your pajamas. Free online tax prep is available here. If you feel comfortable completing your taxes online, you can save yourself money and time.
Are you a bit behind on filing? VITA volunteers at registered free tax prep sites can help you file tax returns for each of the past three years.
Bring these documents with you. This is a list of what you’ll need with you in order to have your taxes prepared.
Ask your preparer what tax benefits may apply to you. Special tax credits such as the Earned Income Tax Credit, Child Tax Credit, and Credit for the Elderly or Disabled may mean you’re entitled to an even bigger refund. Ask the question.
SAVE! SAVE! SAVE! A big refund check may look like a party today. But putting part of that refund towards emergency savings or paying down debt will keep you feeling financially good for the rest of the year. Plus, SaveYourRefund is offering $100 cash prizes and a grand prize of $25,000 for individuals who save at least $50 of their refund. Turning money into more money? Not a bad idea. Be sure to enter their contest here.